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Fortune Company's direct materials budget shows the following cost of materials to be purchased for the coming three months: Payments for purchases are expected to

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Fortune Company's direct materials budget shows the following cost of materials to be purchased for the coming three months: Payments for purchases are expected to be made 50% in the month of purchase and 50% in the month following purchase. The December Accounts Payable balance is $6,700. The expected January 31 Accounts Payable balance is: Multiple Choice $6,700. $7,285 $12,460. $6,230. $9,580

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